Stock of the day: Coca-Cola

Looking at the technicals, Coca-Cola has a key horizontal support level at $61.50, marked in orange. This level has served as a reliable support since mid-November, though it was briefly broken earlier, an event marked in blue. Despite that temporary dip, the price rebounded strongly, and Friday ended with a positive bounce above this support. This reinforces the view that as long as Coca-Cola stays above $61.50, the sentiment remains positive and the buy signal remains intact.

However, today’s session is pivotal. If Coca-Cola fails to hold above the orange support and closes the day below $61.50, it would signal a bearish breakdown. Such a move could negate Friday’s optimism and shift sentiment toward selling. Traders should closely monitor today’s price action as it could set the tone for the stock’s next move.